Some money management types just can't give it up.
Norton H. Reamer, the founder of the now-defunct United Asset Management Corp., retired from the investment management business in September 2000, after UAM was sold to Old Mutual PLC - and promptly came back that November as chairman and chief operating officer of newly independent UAM subsidiary Hellman, Jordan Management Co.
As if the Hellman, Jordan gig, which he termed "part-time," weren't enough, Mr. Reamer also joined Berkshire Capital Corp. this summer, nearly full-time, as an advisory director. "I do deals," Mr. Reamer said of his work for the boutique investment bank, which specializes in money management merger and acquisitions. H. Bruce McEver, chairman of Berkshire Capital, said he was delighted that Mr. Reamer is joining the firm and will be working "a lot for us on many deals."
And Mr. Reamer - who said, "I don't think I'm suited to retirement. I don't play golf or do anything like that. I try to keep 100% busy" - also has a third job. He's president and founder of Unicorn Corp., a "vehicle I created so I can do financial and investment management industry consulting. I needed to set up an incorporated company so I can pay taxes and that kind of thing." Mr. Reamer, who bought more than 50 companies while steering the asset management holding company that was UAM, said he provides business advice to financial and money management companies. He declined to discuss his clients or the nature of his assignments.
Actually, Mr. Reamer has a few other jobs as well, as a mutual fund and company director (for Eaton Vance mutual funds, among others), but on Fridays in the summer you just won't find Mr. Reamer in his Boston offices at Hellman Jordan, or at Unicorn or Berkshire in New York. He's off to his "house on the shore," as he calls it, although colleagues and industry friends said Mr. Reamer is being a little modest. His summer retreat is 85 acres on an island off the coast of Rhode Island.